Benefit from tax deductions for the purchase of a work of art
According to Article 238(b) AB of the General Tax Code, companies who buy the work of living artists can benefit from advantageous tax provisions.
For works costing less than €5000 exclusive of tax, companies and professional occupations can deduct the its cost at the point of acquisition and for the four following years in equal proportions. The benefit is permitted provided that the works are exhibited free of charge in a place that is ‘accessible to the public, to clients and/or company employees with the exception of personal offices’.
So build up a collection of contemporary art, brighten up your waiting rooms and halls and save on your taxes!
» Text of the law